Interactive Brokers Misused Systems, NASDR Finds
SPECIAL REPORT
WASHINGTON, D.C. and GREENWICH, Conn.--Interactive Brokers, an electronic direct-access and agency broker, was fined $230,000 by NASD Regulation for multiple violations, including order routing, Order Audit Trail System (OATS) reporting, record-keeping and supervision violations. Interactive Brokers has undertaken substantial reprogramming of its proprietary order-routing and order management systems as a result, removing a non-negotiable order function, extending the expiry cycle on routing
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